Category Archives: Real Estate News

Wurzak Hotel Group and DoveHill will soon break ground on a dual-branded hotel north of downtown Fort Lauderdale. Bank of the Ozarks (NYSE: OZRK) awarded a $56.1 million, four-year construction loan to the developers for the 23-story project at 299 N. Federal Highway. The loan was brokered by Meridian Capital Group’s Ronnie Levine and Aggelos…

Equity One President Thomas Caputo will step down on Dec. 31 when his employment agreement expires. The North Miami Beach- and New York-based retail real estate investment trust (NYSE: EQY) announced that it entered into an agreement with Caputo to provide consulting services to the company for $30,000 per month during 2017. He can’t accept…

Kimco Realty has found two tenants to replace the closed Sports Authority store at its Pompano Pointe retail center in Pompano Beach. The city’s Architectural Appearance Committee will consider a new facade for the building at 2421 N. Federal Highway on Aug. 25. Designed by architect SA Group, the redesign shows 20,150 square feet being…

The owner of the Flagler Waterview office building in West Palm Beach successfully extended a mortgage that had been placed into special servicing by its lender, but the deal proved costly. The $35.8 million mortgage on the 161,206-square-foot office building at 1515 N. Flagler Drive was sent to special servicing in July 2015 after the…

American Land Ventures obtained approval for the design of its mixed-use project in Lauderdale Lakes from the city’s Community Redevelopment Agency on Aug. 16. CRA Executive Director J. Gary Roders said his staff will now conduct cost/revenue projects and request a new appraisal for the 20-acre property so it can prepare a sales contract. The…

The 327 Royal Palm condominium project in downtown Boca Raton obtained a $19.7 million construction loan six months after it broke ground. Banks usually don’t grant a developer construction financing until they have enough equity and buyer deposits to complete the project, in combination with the loan. Group P6, led by Ignacio Diaz, said the…

New York developer Moishe Mana increased his collection of holdings in downtown Miami by acquiring the 91-year-old Biscayne Building for $24.5 million. Biscayne Building Inc., managed by longtime owner Dante Fiorini, sold the 153,864-square-foot office building at 19 W. Flagler Street to a company led by Mana. The buyer was represented by Mika Mattingly of…

Moishe Mana, Mika Mattingly and 19 West Flagler Street Moishe Mana is still assembling his downtown Miami Monopoly board. The Miami and New Jersey developer paid $24.5 million to acquire the Biscayne Building. Mana bought the 14-story, roughly 154,000-square-foot building at 19 West Flagler Street, Colliers International South Florida broker Mika Mattingly told The Real…

An estimated 113 jobs are expected to be created at the Royal Palm Office Park in Plantation after seven new tenants and one expanding tenant signed leases there over the past six months. The transactions at 900 and 1000 S. Pine Island Road totaled 28,175 square feet. Blanca Commercial Real Estate’s Tere Blanca, Danet Linares,…

The repossessed Mizner Place office park in West Palm Beach was sold at a 37 percent discount to its foreclosed mortgage. U.S. Bank, representing a commercial mortgage-backed securities (CMBS) trust, seized the four one-story office buildings at 5601 Corporate Way in 2015 after foreclosing on Foundation IV LLC’s $4.98 million mortgage. CMBS analysis firm Trepp…